Current Yield

Nowhere to Go but Up

Greenspan says rates will rise, but not just yet

WELCOME TO THE DAWN OF A NEW CYCLE? Last week Federal Reserve Chairman Alan Greenspan provided his most optimistic assessment yet on the U.S. economy, saying that growth has come into "a period of more vigorous expansion."

Even more important, Greenspan hinted that the extended period of extraordinarily low short-term interest rates will come to an end. But the Maestro stressed that he was in no hurry to raise the...